TD Cowen initiates Senseonics stock with Buy rating on CGM growth potential

Investing.com - TD Cowen initiated coverage on Senseonics Holdings (NYSE:SENS) with a Buy rating and a price target of $1.25 on Tuesday. The target represents significant upside from the current price of $0.49, with analyst targets ranging from $1.40 to $2.00, according to InvestingPro data.

The research firm highlighted Senseonics’ position for accelerated growth following the U.S. launch of Eversense 365, the company’s year-long implantable continuous glucose monitoring (CGM) system.

TD Cowen noted that Senseonics is gaining market share as a differentiated player in the high-growth CGM market, which has seen increasing adoption among diabetes patients.

The firm pointed to Senseonics’ innovation pipeline, specifically mentioning the Gemini and Freedom products, which promise to enhance competitiveness with fully implantable, discreet, and on-body-free glucose monitoring solutions.

Senseonics’ current product, Eversense 365, offers a significant advantage over competing CGM systems with its extended one-year sensor life, reducing the frequency of sensor replacements for diabetes patients.

In other recent news, Senseonics Holdings reported mixed financial results for Q1 2025. The company exceeded earnings per share expectations with a reported EPS of -$0.02, surpassing the forecasted -$0.03, although revenue fell short at $6.3 million against a forecast of $6.92 million. Additionally, Senseonics announced a public stock offering alongside a private placement agreement with Abbott Laboratories (NYSE:ABT), which aims to raise funds for the launch of the Eversense 365 and other corporate purposes. H.C. Wainwright has raised its price target for Senseonics to $1.40, maintaining a Buy rating, citing the company’s growth outlook and future product launches. The firm projects total revenues of $75.6 million in 2026 and $118.4 million in 2027, reflecting a revised financial model. Senseonics also revealed plans for significant product launches in the coming years, including the Eversense 365 in the EU and the Gemini and Freedom systems. These developments are expected to drive the company toward operational break-even by the end of 2027, according to company management.

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